Waxfactory Inc

Nonprofit profile at a glance

EIN
061570027
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2020
Location
New York, NY, USA
Phone
6467412200
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$236,817
Expenses
$208,987
Assets
$39,641
Liabilities
$44,800

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • KAREN CELLINI (President)

People named in this filing

  • KAREN CELLINI (President)
  • GILLIAN CHADSEY (Treasurer)
  • GABRIELLA HIATT (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Founded in 1998, WaxFactory (WF) is an interdisciplinary group of artists dedicated to exploring a multiplicity of theatrical visions, ensemble process, arts education and international exchange. Its founding members have developed a hybrid approach, investigating diverse narrative styles, visual/physical rigor, an integrated use of new media/technology, and site-specific work.

What it reported doing in 2024

Founded in 1998, WaxFactory (WF) is an interdisciplinary group of artists dedicated to exploring a multiplicity of theatrical visions, ensemble process, arts education and international exchange. Its founding members have developed a hybrid approach, investigating diverse narrative styles, visual/physical rigor, an integrated use of new media/technology, and site-specific work.A. International premiere of our twentieth-anniversary production, LULU XX, at the Midsummer Scene Festival in Dubrovnik, Croatia, in June 2024B. The fourth edition of Contemporary Performance Practices summer intensive theater training program, in June/July 2024.C. The World Premiere of TRACES, presented by the Walker Art Center (Minneapolis, MN) in October/November 2024.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 41
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.3%; rating input score 67
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11.8%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.19; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 1.13; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 28.7% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: -16.9% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 67.3% of revenue deployed · 76.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $159K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.